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Instead of shopping they’re quietly stockpiling cash — ‘shadow saving’ —
and it could short-circuit the global economy
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Households in China aren’t broke, the available data indicate. They’re just
exhibiting a reluctance to spend.
59 minutes ago
Seed Newsvine
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"He is the last hope of a desperate market."
ReplyDelete"The public has totally lost confidence in Congress to do anything coherent or useful," said Mark Gertler, economics professor at New York University.
"By contrast, the Fed is the only major policy player that operates independently of politics and is thus just about the only government institution in which the markets have any faith," he said. "Partly for this reason and partly because of his proven skill as crisis manager, the world is looking for him to deliver."